Influencer marketing campaigns can be cumbersome to track and measure. It is vital to understand how to measure the effectiveness of a campaign, such as how to identify social media influencers to work with, as well as how to implement the campaign on the right platforms. Gathering data for the campaign is another hurdle. To measure the success rate of the influencer marketing campaign, it is important to gather information through close analysis and data gathering.
Is Your Influencer Marketing Working?
Marketers use simple indicators like views and followers to judge influencer marketing campaigns, but there is more to evaluate. There are two main purposes when it comes to campaign performances, mainly:
- Assisting with figuring out what made prior strategies fail
- Assisting with framing influencer marketing strategies down the line
Here are measurable ways to see if your influencer marketing is working:
1. Have goals for influencer marketing that are as particular as possible
Ideally, SMART goals are the best kind of goals to set when it comes to influencer marketing. They have to be Specific, Measurable, Attainable, Realistic and have a Time Frame.
Picking the right influencers for your campaign is a struggle in itself. The process starts with finding influencers who match your target audience, create great content, and are partners worthy of your budget spend. Here are influencer goals that can yield solid results falling under SMART:
- Direct sales
- Increase in social media following
- Post engagement rate
- Post engagement shares
- Social media mentions
- Website traffic
2. Keep an eye on conversion rates
If you have an influencer marketing campaign, you need to record the worth of that campaign by checking your email subscriptions, free trials of service or product and sales. Check your analytics programs – Google Analytics is a good one – to track the journey of your users. Learn more about their behaviour and why they interact with your content, and you’ll be able to come up with better strategies and more user-friendly services.
For example, if you learn that many of your users are creating accounts, but few of them are purchasing anything, you can take different actions based on what you’ve learned.
3. Keep track of engagement metrics
Brands generally collaborate with influencers in order for their following to grow considerably. This is why you have to measure follower growth on social media. Keep an eye on your social media channels’ follower growth after you begin working with influencers in order to see whether or not your strategy is working
4. Keep track of the influencer’s content metrics
It’s important to check the metrics of each influencer before choosing them for your campaign. To name a few, keep an eye on:
- How many new followers they get in a month
- Numer of posts shared in a week
- Their number of followers
If you have structured an effective campaign but aren’t reaching your goals, it’s possible you aren’t choosing good influencers or that the influencers aren’t putting in enough effort.
Conclusion
Influencer marketing is a whole new aspect of today’s modern age that’s vital for any business. However, campaigns can be tough to measure and keep track of. A good way to see if it’s working include keeping track of engagement metrics, keeping track of the influencer’s content metrics and keeping an eye on conversion rates.
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